Waterway Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the month of March. Price per Unit Units Total 500 $ 300 $ 150,000 1,250 1,000 750 $ $ $ 450 475 500 $ 562.500 $ 475.000 $ 375.000 1,250 $ 540 $ 570 $ 675.000 $ 570,000 1,250 Residential Pumps Inventory at Feb. 28: Purchases: March 10 March 20 March 30 Sales: March 15 March 25 Inventory at March 31: Commercial Pumps Inventory at Feb. 28: Purchases: March 3 March 12 March 21 Sales: March 18 March 29 Inventory at March 31: 1,500 $ 800 $ 1,200,000 1,500 750 1,250 $ 900 $ 950 $1,000 $1,350.000 $ 712,500 $1,250,000 2,250 1,500 1,250 $ 1,080 $ 1,140 $2430,000 $ 1.710,000 Your answer is correct. Assuming Waterway uses a periodic inventory system, determine the cost of inventory on hand at March 31 and the cost of goods sold for March under first-in, first-out (FIFO). Cost of inventory $ Cost of goods sold $ 1862500 4212500 e Textbook and Media X Your answer is incorrect. Assume Waterway uses dollar-value LIFO and one pool, consisting of the combination of residential and commercial pumps. Determine the cost of inventory on hand at March 31 and the cost of goods sold for March. Assume Waterway's initial adoption of LIFO is on March 1. Use the double-extension method to determine the appropriate price indices. (Hint: The price index for February 28/March 1 should be 1.00.) (Round Price Index to 3 decimal places eg. 1.522 and other answers to O decimal places, eg. 5,275.) 1000000 Cost of inventory $ Cost of goods sold $ 4712500 Price index 0.74 Activate Windows